HCMC – Vingroup said it has filed civil lawsuits and notified authorities against 68 domestic and foreign organizations and individuals for spreading false information about the company and its leaders on social media.
The accounts, active on platforms such as TikTok, Facebook and YouTube, allegedly fabricated and distorted information about Vingroup’s finances, product quality, legal matters and senior executives, including Chairman Pham Nhat Vuong.
Some posts claimed that the group was nearing bankruptcy over debts of VND800 trillion.
However, the group said its consolidated financial statements show total debt of about VND283 trillion, with a debt-to-equity ratio of 1.8, which it described as safe under international and Vietnamese standards.
The remaining liabilities mainly consist of advance payments from customers and partners, along with other payables and receivables arising from normal business activities like any other enterprise, and are entirely consistent with the group’s scale, it added.
The company also rejected claims that VinFast’s electric cars and motorcycles were Chinese products rebranded as Vietnamese, saying the automaker controls its production chain, with a localization ratio of 60%, which could rise to 80% in the future.
